Question

Name the deposit account which allows Overdraft facility. Mention any other feature of that deposit account.

Answer 1

Overdraft facility is allowed only in current accounts for a short period of time.

Current accounts are those accounts in which there are almost no limits on the numbers of withdrawals.

Generally these accounts offer no interest or a minimum rate of interest.

Overdraft facility helps the businessman to arrange for short term funds in an emergency situation.

Answer 2

Answer:

overdraft Facility help the business to arrange for short fund in an emergency situation